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Category Archives: Multifamily News & Trends

In 2016, approximately 43 million people visited Arizona spending a record $21.2 billion in the state. The Phoenix MSA accounted for more than 65.5 percent, or $13.9 billion, of all spending in Arizona. With an estimated Gross Domestic Product of $9.2 billion, tourism is the number one export industry in the state.

Total non-farm employment in Metro Phoenix reached 2,023,400 payrolls in April 2017, representing an annualized increase of 48,800 jobs. As a result, unemployment was reported at 3.9 percent in April, down 60 basis points from one year prior. This is the lowest unemployment rate we’ve seen in Metro Phoenix in ten years.

Job growth was led by the Leisure & Hospitality and Financial Activities sectors, which added 14,700 jobs and 8,800 jobs, respectively.… Read More

Maricopa County grew by 81,360 residents between July 1, 2015 and July 1, 2016, the largest population gain in the nation. Harris County, Texas, had the second-largest net migration, growing by 56,587 people over the same time period.

The city of Phoenix added approximately 32,113 residents over the same time… Read More

Phoenix’s population rose from nearly 4.2 million to more than 4.6 million from 2010 to 2016 based on new population estimates released by the U.S. Census Bureau. Metro Phoenix averaged a total net increase of over 1,436 persons per week over that time period.

According to INRIX Global Traffic Scorecard, traffic congestion cost drivers in the United States nearly $300 billion in 2016, or an average of $1,400 per driver. Phoenix and Detroit tied for the lowest cost… Read More

As multifamily rent growth begins to slow among the nation’s biggest markets, a few markets are maintaining their strong performance and driving positive trends over the forecast horizon. Phoenix is one such market in the West region that is expected to outperform due… Read More

According to the U.S. Bureau of Economic Analysis, Arizona ranked No. 4 nationally for annual gross domestic product (GDP) growth in the second quarter of 2016, just behind of Idaho, Nebraska and Utah.

Arizona’s GDP growth of 2.7 percent was led by growth in real estate and rental and… Read More

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About JLL Phoenix

JLL's Phoenix blog offers expert insight on news and trends for owners, investors and tenants of commercial real estate.
Learn more about our services and our professionals to see how they’ve helped clients throughout the Phoenix area with their commercial real estate needs.

Get our latest insights.

Click here to sign-up to get the latest commercial real estate insights and news from our Phoenix team, delivered to your inbox.